Jordan O'BrienAV fans will soon begin to feel the pinch of Brexit, as Sonos has announced that its UK pricing structure will increase following the vote to leave the European Union. While Sonos hasn’t exactly mentioned Brexit by name as the cause, the company did note that the significant change on the US Dollar to GBP exchange rate is behind its decision – and, well, that only dropped due to the shock vote to leave the EU back in June 2016.
Sonos is updating its pricing across the board to reflect the changes in the exchange rate, with the company stating that the new pricing structure will take effect on February 23.
GBP RRP (Inc. VAT) |
GBP RRP (Inc. VAT) | |
| Current | New (23rd February) | |
| PLAY:1 | £169 | £199 |
| PLAY:3 | £259 | £299 |
| PLAY:5 | £429 | £499 |
| PLAYBAR | £599 | £699 |
| SUB | £599 | £699 |
| CONNECT | £279 | £349 |
| CONNECT:AMP | £399 | £499 |
| BOOST | £79 | £99 |
| Wallmount | £35 | £39 |
Sonos isn’t the only company raising its prices in the UK, many other firms have made similar moves in recent months. Apple made its decision to raise prices early on, while Tesco has been in a battle with Unilever following the manufacturer’s decision to raise prices of popular items such as Marmite.
Inflation is expected to bite in the coming months, according to the Bank of England, and will be the main repercussion of the vote to leave the EU. Inflation in January reached 2%, which is a three year high, although it’s not expected to stop there. The Bank of England expects the rate to peak at 2.8% in 2018, while it’ll remain above 2% for the rest of the decade. That means more price rises can be expected by the year 2020.